E&G Advisors LP Grows Stock Holdings in McDonald’s Co. (NYSE:MCD)

E&G Advisors LP grew its holdings in McDonald’s Co. (NYSE:MCD) by 12.8% during the first quarter, HoldingsChannel reports. The firm owned 1,511 shares of the fast-food giant’s stock after acquiring an additional 171 shares during the period. E&G Advisors LP’s holdings in McDonald’s were worth $426,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of McDonald’s by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 69,049,310 shares of the fast-food giant’s stock worth $20,473,811,000 after buying an additional 599,745 shares during the last quarter. Norges Bank acquired a new stake in McDonald’s in the 4th quarter valued at approximately $2,684,899,000. Price T Rowe Associates Inc. MD increased its holdings in McDonald’s by 15.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,347,048 shares of the fast-food giant’s stock valued at $2,178,474,000 after purchasing an additional 987,099 shares during the last quarter. Gallagher Fiduciary Advisors LLC increased its holdings in McDonald’s by 141,160.9% in the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 5,613,710 shares of the fast-food giant’s stock valued at $1,664,521,000 after purchasing an additional 5,609,736 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in McDonald’s by 0.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,425,674 shares of the fast-food giant’s stock valued at $1,589,073,000 after purchasing an additional 35,639 shares during the last quarter. Institutional investors and hedge funds own 70.29% of the company’s stock.

McDonald’s Stock Up 0.9 %

MCD traded up $2.25 on Wednesday, reaching $250.04. The company had a trading volume of 2,026,063 shares, compared to its average volume of 3,426,628. McDonald’s Co. has a 1 year low of $245.73 and a 1 year high of $302.39. The stock has a market capitalization of $180.20 billion, a PE ratio of 21.18, a P/E/G ratio of 2.87 and a beta of 0.71. The stock has a 50-day moving average price of $262.22 and a 200-day moving average price of $278.52.

McDonald’s (NYSE:MCD) last posted its quarterly earnings data on Tuesday, April 30th. The fast-food giant reported $2.70 EPS for the quarter, missing analysts’ consensus estimates of $2.71 by ($0.01). The business had revenue of $6.17 billion during the quarter, compared to analyst estimates of $6.16 billion. McDonald’s had a net margin of 33.36% and a negative return on equity of 180.74%. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.63 earnings per share. As a group, analysts expect that McDonald’s Co. will post 12.19 earnings per share for the current fiscal year.

McDonald’s Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Monday, June 3rd were paid a $1.67 dividend. The ex-dividend date was Monday, June 3rd. This represents a $6.68 dividend on an annualized basis and a yield of 2.67%. McDonald’s’s dividend payout ratio is presently 56.71%.

Insider Buying and Selling at McDonald’s

In other news, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $276.64, for a total transaction of $303,750.72. Following the transaction, the insider now directly owns 16,977 shares in the company, valued at $4,696,517.28. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Jonathan Banner sold 800 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $275.02, for a total transaction of $220,016.00. Following the transaction, the executive vice president now directly owns 19 shares in the company, valued at $5,225.38. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Joseph M. Erlinger sold 1,098 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $276.64, for a total transaction of $303,750.72. Following the transaction, the insider now owns 16,977 shares in the company, valued at $4,696,517.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,593 shares of company stock worth $1,472,518. 0.23% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Truist Financial dropped their target price on shares of McDonald’s from $337.00 to $320.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Bank of America dropped their target price on shares of McDonald’s from $302.00 to $288.00 and set a “neutral” rating for the company in a report on Tuesday, May 28th. KeyCorp dropped their price target on shares of McDonald’s from $315.00 to $310.00 and set an “overweight” rating for the company in a research note on Wednesday, May 1st. Guggenheim dropped their price target on shares of McDonald’s from $315.00 to $280.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, The Goldman Sachs Group assumed coverage on shares of McDonald’s in a research note on Thursday, June 13th. They issued a “neutral” rating and a $288.00 price target for the company. Ten analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, McDonald’s currently has a consensus rating of “Moderate Buy” and a consensus price target of $313.89.

McDonald’s Profile

McDonald's Corporation operates and franchises restaurants under the McDonald's brand in the United States and internationally. It offers food and beverages, including hamburgers and cheeseburgers, various chicken sandwiches, fries, shakes, desserts, sundaes, cookies, pies, soft drinks, coffee, and other beverages; and full or limited breakfast, as well as sells various other products during limited-time promotions.